100 ചോദ്യങ്ങള്‍ ഉത്തരങ്ങള്‍

OMR QUESTIONS

1. Which chapter of KCS Act deals with the establishment.

(A)Chapter XVI	(B)Chapter X
(C)Chapter XIV	(D)Chapter XII

 

2. ____________ means any matter touching the business, constitution or management of the society capable of being subject to litigation and includes claim in respect of any sum payable to or by a society.

(A)Dispute	(B)Surcharge
(C)Penalty	(D)Supersession

 

3. When the registrar refuses to register an amendment of the bye-law of a society, he shall communicate the order of refusal within _____ days of the order to the society.

(A)30 Days	(B)15 Days
(C)7 Days	(D)60 Days

 

4. Which of the following is an apex industrial processing society?

(A)KERAFED	(B)TEXFED
(C)HANTEX	(D)COIRFED

 

5. ____________ co-operative societies may admit industrial and commercial establishments and other organizations registered under any other law as member

(A)Multipurpose	(B)Miscellaneous
(C)Hospital	(D)Labour Contract

 

6. Members right to inspect the account in the society defined in _____ of KCS Rules

(A)Rule 23	(B)Rule 25
(C)Rule 22	(D)Rule 26

 

7. Commuted leave can be granted only to an officer:

(A)In permanent employment

(B)Who has completed probation in the entry post

(C)Who has completed three years of continuous service

(D)Both (A) and (C)

 

8. Casual vacancy of an elected member of the committee shall be filled up by nomination by the committee, if the term of office of the board is __________.

(A)Less than half of its original term	(B)At any time
(C)More than half of its original term	(D)None of the cases above

 

 

 

9. The appointment of state chief co-operative election commissioner shall be for a period of ___________, whichever is earlier

(A)Five years or 62 years age	(B)3 years or 62 years age
(C)Five years or 65 years age	(D)3 years or 65 years age

 

10. Along with the nomination paper, the candidate shall deposit Rs._____ in the society, which shall be refunded to the candidate if he/she gets more than ten percentage of the total votes polled.

(A)Rs.500/-	(B)Rs.100/-
(C)Rs.250/-	(D)Rs.1000/-

 

11. Maximum number of members in the interim committee, which is formed in the case of division of a society.

(A)7 Members	(B)5 Members
(C)3 Members	(D)9 Members

 

12. _______ fixes the maximum rates of travelling allowances and daily allowances or sitting fees for any society or class of societies.

(A)Registrar	(B)Auditor
(C)Government	(D)Managing Committee

 

13. Government by notification in Gazette exempt any class of societies from taxes on:

(A)Agricultural Income	(B)Sale or Purchase of goods
(C)Professions	(D)All of the above

 

14. Which of the following funds are not maintained by Registrar of Co-operative societies?

(A)Agricultural Credit Stabilization Fund	(B)Co-operative Member Relief Fund
(C)Co-operative Education Fund	(D)Both A & B

 

15. The maximum number of days of Paternity Leave granted to a male state govt. employee during the confinement of his wife is:

(A)90 Days	(B)30 Days
(C)15 Days	(D)10 Days

 

16. Rule 55 of KCS Rules deals with:

(A)Restrictions on borrowing	(B)Transaction with non-members
(C)Manner of investment of funds	(D)Restrictions on grant of loans

 

17. No credit society other than CARD Bank, exclusively on the mortgage of immovable properties, shall grant loans for periods exceeding _________________.

(A)180 Months	(B)120 Months
(C)240 Months	(D)100 Months

 

18. The immovable property acquired by a society through a sale by sale officer shall be disposed of by the society within ___________ from the acquisition.

(A)5 Years	(B)7 Years
(C)10 Years	(D)12 Years

 

19. __________ is framed for the establishment of a fund for meeting the loan liability of those members availed loans from the co-operative society and died within the repayment period of such loans

(A)Co-operative Development and Welfare Fund	(B)Deposit Guarantee Scheme
(C)Consortium Lending Scheme	(D)Co-operative Risk Fund Scheme

 

20. Section 63 of KCS Act deals with:

(A)Gratuity	(B)Restrictions on Borrowings
(C)Director of Co-operative Audit	(D)Maintenance of Fluid Resources

 

21. Accounts of every society shall be audited within ________ of the close of the financial year.

(A)9 Months	(B)4 Months
(C)6 Months	(D)3 Months

 

22. The DCA shall be competent to appoint one or more auditors specially or exclusively for the audit of the accounts of one or more societies, each having a working capital or annual sales exceeding ______________ rupees.

(A)Rs.15 Lakhs	(B)Rs.20 Lakhs
(C)Rs.25 Lakhs	(D)Rs.50 Lakhs

 

23. Powers of liquidator is defined in ________ of KCS Act.

(A)Section 70	(B)Section 73
(C)Section 69	(D)Section 72

 

24. Board of Directors of Kerala State Co-operative Bank shall consist of not more than _________ as may be prescribed in the rules.

(A)21 Members	(B)23 Members
(C)15 Members	(D)25 Members

 

25. The _______ shall, in consultation with ______, fix or alter the number and designation of the officers and servants of the different classes of societies.

(A)Managing Committee, Registrar	(B)Government, Registrar
(C)Managing Committee, Government	(D)Registrar, Government

 

26. _________ are the amount earned by a business concern by selling its product and services.

(A)Revenue	(B)Expenses
(C)Working Capital	(D)Capital

 

 

27. Rs.8000 is withdrawn by the proprietor for personal use. Which of the following effects will happen:

(A)Increase capital and increase cash	(B)Reduce capital and increase cash
(C)Increase capital and reduce cash	(D)Reduce capital and Reduce cash

 

28. While preparing the trail balance, which of the following have debit balances:

(A)Liabilities	(B)Drawings
(C)Incomes and gains	(D)Capital

 

29. Which of the following entries are not recorded in a journal proper:

(A)Closing Entries	(B)Purchase of fixed assets
(C)Purchase of goods	(D)Writing off bad debts

 

30. Which of the following entries require to prepare reconciliation statement:

(A)Cheque issued but not presented	(B)Bank Charges
(C)Amount collected as per standing instructions	(D)All of the above

 

31. Sale of furniture to Mr.Asoka was wrongly entered in the sales book. Hence in the rectification entry, which account is debited?

(A)Asoka a/c	(B)Sales a/c
(C)Furniture a/c	(D)None of these

 

32. A manufacturing concern first prepare _______ to find out the costs of production.

(A)Balance Sheet	(B)Trading account
(C)Profit and loss a/c	(D)Manufacturing a/c

 

33. In _______ method of depreciation, the amount spent on the purchase of an asset is considered as an investment and such investment is assumed to earn interest at a certain rate.

(A)Depreciation Fund Method	(B)Depletion Method
(C)Annuity Method	(D)Original Cost Method

 

34. Profit prior to incorporation is a __________.

(A)Specific reserve	(B)General reserve
(C)Capital reserve	(D)Revenue reserve

 

35. Underlying accounting principle necessitating amortization of intangible assets is:

(A)Matching Concept	(B)Cost Concept
(C)Realization Concept	(D)Both (A) and (C)

 

36. AS-6 deals with:

(A)Intangible Assets	(B)Depreciation Accounting
(C)Revenue Recognition	(D)Cash Flow Statements

 

37. Credit balance in nominal account shows:

(A)Income in Business	(B)Expense in Business
(C)Asset in Business	(D)Loss in Business

 

38. A motor car which was purchased for Rs. 20,000 had a book value of Rs.12000 and was sold for Rs. 25,000. The capital profit is:

(A)Rs.8000	(B)Rs.13000
(C)Rs.25000	(D)Rs.5000

 

39. When obligation is not probable or the amount expected to be paid to settle the liability cannot be determined with sufficient reliability, it is called:

(A)Contingent Asset	(B)Liability
(C)Contingent Liability	(D)Provision

 

40. Credit purchase of stationery by a stationery dealer will be recorded in:

(A)Sales Book	(B)Purchase Book
(C)Cash Book	(D)Journal Proper

 

41. Standard cost is:

(A)Predetermined cost	(B)Current replacement cost
(C)Historical Cost	(D)Actual Cost

 

42. Cost of a machine is Rs.2000 and after two years the book value of the machine is Rs.1000. If the depreciation was calculated under straight-line method, what was the percentage of depreciation?

(A)50%	(B)33%
(C)30%	(D)25%

 

43. Unearned income account is:

(A)A Liability	(B)An Asset
(C)An Expense	(D)An Income

 

44. The ownership right of the consignment stock is always with the:

(A)Consignee	(B)Consignor
(C)Debtors	(D)None

 

45. If net loss is Rs.5000, General expenses are Rs.14500, Sales amount is Rs.25000. Then the gross profit will be:

(A)Rs.20000	(B)Rs.19500
(C)Rs.9500	(D)Rs.11000

 

 

 

46. Profit and loss on revaluation is shared among the partners in:

(A)New Profit Sharing	(B)Capital
(C)Old Profit Sharing	(D)Equally

 

47. To provide funds to pay to the retiring partner or to the representatives of a deceased partner, generally partners create:

(A)Sinking Fund	(B)Reserve Fund
(C)Joint Life Policy	(D)Separate Bank Account

 

48. Document inviting offers from public to subscribe shares of a company is:

(A)Share Certificate	(B)Prospectus
(C)Memorandum of Association	(D)Articles of Association

 

49. Dividend are usually paid on:

(A)Issued capital	(B)Called-up capital
(C)Authorized capital	(D)Paid-up capital

 

50. In case the whole or a part of the security issued are not subscribed by the public, who will subscribe such unsubscribed securities for a fixed commission?

(A)Underwriters	(B)Sales Agents
(C)Brokers	(D)Commission Agent

 

51. The Tokyo congress in the year ____ appointed Ian Macpherson to formulate the co-operative principles.

(A)1995	(B)1994
(C)1989	(D)1992

 

52. Raiffeisen founded first society named “Village society” in ______.

(A)Wyerbush	(B)Koblenz
(C)Anhansen	(D)Heddesderf

 

53. Luigi Luzzatti is the pioneer of co-operative movement in ___________

(A)Italy	(B)Germany
(C)England	(D)France

 

54. SevenAke book was a research study done by the co-operative specialists in ________.

(A)England	(B)Italy
(C)Sweden	(D)France

 

55. Dr.Ulkrik engaged in the spread of co-operative movement in ____________.

(A)Germany	(B)Denmark
(C)Canada	(D)Ireland

 

56. Central or apex societies couldn’t be started under the _____ Act.

(A)1904 Act	(B)1912 Act
(C)1932 Act	(D)1969 Act

 

57. Which of the following is not a concept in respect of co-operative societies:

(A)Voluntary Formation	(B)Autonomous Function
(C)Professional Management	(D)Autocratic Control

 

58. The governing council of NCUI shall meet at least __________.

(A)Once in a month	(B)Once in a quarter
(C)Once in half yearly	(D)Once in yearly

 

59. __________ is an autonomous society promoted by Ministry of agriculture and farmers welfare under the societies registration act, 1860.

(A)NCCT	(B)NCCE
(C)NCCF	(D)NAFED

 

60. Board of Directors of NABARD consist of __________.

(A)20 Members	(B)21 Members
(C)15 Members	(D)51 Members

 

61. Taluks which do not have a Circle Co-operative Union is/are:

(A)Nilambur	(B)Thalassery
(C)Thirurangady	(D)Both (A) and (C)

 

62. Kerala State Co-operative Consumer Federation was registered on:

(A)09-09-1965	(B)04-09-1965
(C)02-08-1965	(D)02-10-1965

 

63. In co-operative sector, Urban banks comes under the preview of ____________.

(A)KCS Act	(B)Companies Act
(C)BR Act	(D)None of these

 

64. In KsheeraUlpadaka Co-operative Societies (KUCS), the audit is done by:

(A)Auditor of Co-operative Department	(B)Auditor of Diary Department
(C)Internal Auditor	(D)Chartered Accountant

 

65. The coir co-operative in Kerala is of ____________.

(A)Three tier	(B)Two Tier
(C)Unitary	(D)None of these

 

66. Patronage dividend is associated with:

(A)Diary Societies	(B)Credit Societies
(C)Consumer Societies	(D)Marketing Societies

 

67. Headquarters of Tourfed is located at:

(A)Trivandrum	(B)Ernakulam
(C)Kannur	(D)Kollam

 

68. Which of the following is not the product of RUBCO?

(A)RUBWOOD	(B)NUTRICO
(C)LUSH Oil	(D)Periyar Mixture

 

69. _________ is a statutory corporation under the Ministry of Agriculture established by Government of India.

(A)NCUI	(B)NCDC
(C)NAFED	(D)IFFCO

 

70. IFFCO registered in ___________

(A)05-04-1966	(B)08-09-1967
(C)16-09-1968	(D)03-11-1967

 

71. Townsend Committee appointed in the year:

(A)1926	(B)1927
(C)1914	(D)1935

 

72. The book “Co-operative Way” was written by:

(A)E M Hough	(B)C R Fay
(C)J P Warbase	(D)Malcolm Darling

 

73. Committee on Co-operative law in the year 1956 was under the chairmanship of:

(A)S T Raja	(B)R G Saraiyya
(C)H Calvert	(D)V N Mehta

 

74. Who quoted “If co-operation fails, there will fail the best hope for rural India”:

(A)AIRCSC	(B)Malcolm Darling
(C)Mahatma Gandhi	(D)Royal Commission

 

75. Which of the following is not a recommendation of All India Rural Credit Review Committee?

(A)Small Farmers Development Agency	(B)Multipurpose societies are to be organized
(C)Marginal Farmers and Agricultural Labours Development Agency	(D)Constitution of Agriculture Credit Board

76. One of the criteria for scheduled bank is the paid-up share capital and raised funds must be at least _________, which is subject to revision by RBI from time to time.

(A)Rs.1 Lakh	(B)Rs.5 Lakhs
(C)Rs.10 Lakhs	(D)Rs.1 Crore

 

77. __________ is a financial transaction and a type of debtor finance in which a business sells its account receivables to a third party at a discount.

(A)Lease Financing	(B)Underwriting
(C)Factoring	(D)Letter of credit

 

78. The minimum value of assets which RBI was required to hold to issue currency is:

(A)Rs.500 Crores	(B)Rs.115 Crores
(C)Rs.85 Crores	(D)Rs.200 Crores

 

79. Director of a banking company other than Chairman and Whole-time director shall not hold office continuously for a period of __________.

(A)5 Years	(B)8 Years
(C)10 Years	(D)12 Years

 

80. ___________ means a charge on the movable property created by the borrower in favour of a creditor without the delivery of possession of the movable property to creditor.

(A)Hypothecation	(B)Pledge
(C)Lease	(D)Mortgage

 

81. ____________ is the standard rate at which RBI prepared to buy or rediscount the bill of exchange or other commercial paper eligible for purchase.

(A)Bank Rate	(B)Base Rate
(C)MSFR	(D)PLR

 

82. ____________ is the right of creditor to compensate any amount due him from the debtor.

(A)Right of appropriation	(B)Right of lien
(C)Right to charge interest	(D)Right to set-off

 

83. Which of the following is not a pillar of KYC policy:

(A)Customer Identification	(B)Risk Management
(C)Duty of Secrecy	(D)Monitoring of Transactions

 

84. BR Act section 45 ZC deals with:

(A)Nomination in locker accounts	(B)Nomination in deposit accounts
(C)Nomination in joint accounts	(D)Nomination in safe custody accounts

 

 

 

85. Section 13 of NI Act deals with:

(A)Inland Instrument	(B)Negotiable Instrument
(C)Foreign Instrument	(D)None of these

 

86. _________ is a time-bound bill which means payment has to be made within the given time period and time

(A)Accommodation Bill	(B)Demand Bill
(C)Clean Bill	(D)Usance Bill

 

87. ________ crossing is made when the banker in whose favour the cheque is crossed does not have branch where the cheque is paid.

(A)Special Crossing	(B)General Crossing
(C)Double Crossing	(D)Not Negotiable Crossing

 

88. Section 56 of NI Act specifies that ____________ endorsement is not valid.

(A)Facultative	(B)Endorsement in blank
(C)Partial	(D)Per-pro

 

89. Section 18 of BR Act deals with:

(A)Cash Reserve	(B)Reserve Fund
(C)Statutory Liquid Reserve	(D)None of these

 

90. Days of grace is defined in section ___ of NI Act.

(A)Section 23	(B)Section 22
(C)Section 21	(D)Section 24

 

91. In ________ mortgage, the mortgagor binds himself to repay the mortgage money on a certain date and transfers the mortgaged property absolutely to the mortgagee.

(A)Usufructuary Mortgage	(B)Simple Mortgage
(C)English Mortgage	(D)Anomalous Mortgage

 

92. Which of the following is not an NPA:

(A)Doubtful Asset	(B)Standard Asset
(C)Sub-standard Asset	(D)Loss Asset

 

93. In __________ banking, two or more separately incorporated banks are brought under the control of a holding company.

(A)Group Banking	(B)Correspondent Banking
(C)Branch Banking	(D)Chain Banking

 

 

 

94. RBI approved ‘CAMELS’ as per the recommendation of ______________.

(A)Narasimham Committee	(B)Nariman Committee
(C)Padmanabhan Committee	(D)B P Patel Committee

 

95. Effect of material alteration is defined in section ____ of NI Act.

(A)Section 91	(B)Section 59
(C)Section 74	(D)Section 87

 

96. Every banking company shall submit a return in the prescribed form as at the end of such calendar year those accounts which have not been operated upon _______ as unclaimed deposits.

(A)2 Years	(B)10 Years
(C)5 Years	(D)8 Years

 

97. Lead bank scheme was introduced by RBI in the year:

(A)1969	(B)1989
(C)1972	(D)1965

 

98. Liability of the drawer of the bill of exchange is:

(A)Primary and Absolute	(B)Secondary and Conditional
(C)Joint and Several	(D)No Liability

 

99. The drawer cannot countermand __________ cheque

(A)Crossed Cheque	(B)Open Cheque
(C)Duly Dated Cheque	(D)Marked Cheque

 

100. Authorized share capital of Regional Rural Banks has been raised to:

(A)Rs.1 Crores	(B)Rs.10 Crores
(C)Rs.5 Crores	(D)Rs.100 Crores

 

ANSWERS

1. D
2. A
3. C
4. B
5. C
6. B
7. D
8. A
9. A
10. C
11. B
12. A
13. D
14. C
15. D
16. A
17. B
18. B
19. D
20. C
21. C
22. C
23. B
24. A
25. B
26. A
27. D
28. B
29. C
30. D
31. B
32. D
33. C
34. C
35. A
36. B
37. A
38. D
39. C
40. B
41. A
42. D
43. A
44. B
45. C
46. C
47. C
48. B
49. D
50. A
51. D
52. C
53. A
54. C
55. B
56. A
57. D
58. B
59. A
60. C
61. D
62. B
63. C
64. B
65. A
66. C
67. A
68. D
69. B
70. D
71. B
72. C
73. A
74. D
75. B
76. B
77. C
78. D
79. B
80. A
81. A
82. D
83. C
84. D
85. B
86. D
87. C
88. C
89. A
90. B
91. C
92. B
93. A
94. C
95. D
96. B
97. A
98. B
99. D
100. C